Economy

Record quarterly profits of $122.7 million were boosted in part by the performance of the regional firm's private client group.

Midwest assistant regional director Matt Ransom has been promoted to vice president of new financial advisor training and development for its HNW education and practice management team.

A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets.

Optimism abounds in an increasingly crowded market for servicing breakaway advisors.

Securities America will acquire assets of a Missouri-based full-service broker-dealer with 368 advisors and $2.4 billion in client assets.

Two financial advisors have left Wells Fargo to join Raymond James Financial Services, the regional's independent broker/dealer.

Despite their smaller size, these boutique IBDs outperform on several desirable metrics.

Raymond James has lured away two advisors managing $100 million in client assets from UBS.

The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America.

Assets under management at UBS rose to $1.97 trillion, cementing its No. 1 spot in the ranking by Scorpio Partnership, a London-based consultancy.

Founders of IHT Management hope to create a wirehouse-like alternative to lure other advisors.

J.P. Morgan enticed advisors from competitors, including Morgan Stanley, Merrill Lynch and Wells Fargo, in a half dozen markets to fuel its nationwide expansion of wealth management.

As part of its FP50 special report, Financial Planning tracks the breakdown between fee and commission revenue. Here are the IBDs with the highest percentage of fee revenue.

Baird and McAdams Wright Ragen will combine offices in Portland, Ore., following Baird's recent acquisition of the Seattle-based broker-dealer.

Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses.

A Morgan Stanley team that managed over $650 million has gone independent using a new consultant.

Benjamin F. Edwards grabbed nearly a dozen advisors and opened offices in three states.

A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch.

D.A. Davidson gets a facelift as the regional firm nears its 80th anniversary and enters a new period of growth.

Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan.